Sovereign Bank CD Rates and Bank Review

Sovereign Bank is offering several different types of certificates of deposit with some of the best CD rates. Sovereign Bank's 18 month bank CD rates are currently at 1.19% with a bank CD yield of 1.20%. 3 year CD interest rates are at 1.78% with CD interest yields at 1.80%.

5 year CD rates are at 2.76% with a CD yield of 2.80%. You probably won't find 5 year CD rates at banks higher than that rate. The minimum opening deposit is $500 for all regular certificates of deposit.

Sovereign Bank is also offering a Step Up CD with a 3 year term. The current interest rate on this CD is 1.70% with an APY of 1.71%. One of the highest CD rates available right now. With this certificate of deposit account the interest rate increases the second and third year.

Other certificate of deposit accounts at Sovereign Bank include their Choose Your Term CDs, IRA CDs and their Rising Rate CDs. For a list of these rates call the bank at 877-768-2265.

The bank's website is easy to navigate and opening a CD account is easy and quick. You will need the following to open a certificate of deposit account with Sovereign Bank.

A Social Security number

A Current address and prior address(es) if you have lived at your current address for less than two years